SANTA MONICA—A new $50 million retail and apartment complex has recently been completed at the intersection of Lincoln Boulevard and Broadway Boulevard.

NMS Property

The new five-story complex is owned by NMS Properties and is located on the northwest corner of Lincoln and Broadway. The new building holds 97 units and is next to another NMS property that is of similar style.

NMS specializes in a new style of home called micro apartments. Micro-apartments are meant to allow people to live in highly priced areas for more reasonable prices. These mini-apartments are usually under 400-square-feet and the apartments in the new complex continue that style; they are 375-square-feet.

The building’s developers are depending on a stream of millennials that will be searching for affordable homes as they move into Santa Monica. The apartments will be targeted to people that otherwise would be unable to afford apartments in downtown Santa Monica.

Designing such small apartments in a comfortable manner is a challenging task and the Killefer Flammang Architects were in charge with designing the dwellings.

In addition to the apartments, the new building will have a Starbucks and Chase Bank on the ground floor along with other retail stores on the ground floor.